Understand the fundamentals of Machine Learning and how it's applied in the business world.
This course will introduce the key elements of machine learning to the business leaders. We will focus on the key insights and base practices how to structure business questions as modeling projects with the machine learning teams. You will understand the different types of models, what kind of business questions they help answer, or what kind of opportunities they can uncover, also learn to identify situations where machine learning should NOT be applied, which is equally important. You will understand the difference between inference and prediction, predicting probability and amounts, and how using unsupervised learning can help build meaningful customer segmentation strategy.
Machine learning and data use cases
-Machine learning is used in many different industries and fields. It can fundamentally improve the business if applied correctly. This chapter outlines machine learning use cases, job roles and how they fit in the data needs pyramid.
Machine learning types
-This chapter overviews different machine learning types. We will look into differences between causal and prediction models, explore supervised and unsupervised learning, and finally understand the sub-types of supervised learning: classification and regression.
Business requirements and model design
-This chapter reviews key steps in scoping out business requirements, identifying and sizing machine learning opportunities, assessing the model performance, and identifying any performance risks in the process.
Managing machine learning projects
-This chapter will look into the best and worst practices of managing machine learning projects. We will identify most common machine learning mistakes, learn how to manage communication between the business and ML teams and finally address the challenges when deploying machine learning models to production.